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Tax deadline for employers

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Tax deadline for employers

by South African Govt News Agency
31 May 2013
South African Government News Agency
South African Government News Agency

The South African Revenue Service (SARS) has called on employers to submit their payroll data, as today is the deadline. In a statement, SARS spokesperson Adrian Lackay said companies had until today, Friday, 31 May, to submit their Employer Reconciliation Declaration and Employee Tax Certificates (IRP5 certificates) to the taxman.



"This payroll data is a reconciled account of what amounts of tax the employer has deducted from the monthly salaries of its employees and what amount of tax has been paid to SARS on behalf of the employee. It also records other allowances employers pay to their employees as part of their remuneration benefits.

"[Today's] deadline for employers is for the transaction period 1 March 2012 to 28 February 2013, in respect of Monthly Employer Declarations submitted, payments made and IRP5/IT3 (a) generated," he said.

Lackay said that as of Thursday, 197 804 companies had submitted their payroll data, which was more submissions compared to 187 016 companies for the same period last year.

"The Employer Reconciliation process is a crucial first step in the wider income tax process.

"Without the completion of the Employer Reconciliation process, SARS cannot issue taxpayers registered for income tax with a complete pre-populated income tax return when the 2013 tax season for individuals and trusts commences on 1 July this year.

"Companies who fail to submit payroll data on time may become liable for late submission penalties of up to 10% of the value of their payroll." – SAnews.gov.za


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